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NZDUSD briefly traded above the $0.6600........>

KIWI: NZDUSD briefly traded above the $0.6600 level overnight after Westpac said
that they no longer expect the RBNZ to cut the cash rate to 1.25%. Rate topped
out at $0.6614 before drifting back toward 0.6590 ahead of the European
crossover. US-China trade headlines expected to drive risk today with
channel-top resistance so far capping topside gains at $0.6618. Above here opens
a move to $0.6625/30 which represents the 61.8% retracement of $0.6685-0.6527 &
May 7 high. While on the downside a break of $0.6570/75, opens a return to
yesterday's RBNZ react lows of $0.6527.
- Seasonality factors have seen NZDUSD lower in May, seven of the last nine
years, currently -1.26%.

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